HC Deb 17 May 1956 vol 552 cc2187-8
15. Mr. Hunter

asked the Chancellor of the Exchequer the number of persons holding post-war credits on 31st March, 1956; and what was the total amount owing to them.

Mr. H. Brooke

The number of holders of post-war credits at 31st March, 1956, is estimated at about 9½ million, and the amount of credits then outstanding at about £523 million.

Mr. Hunter

Is the Financial Secretary aware that many holders of post-war credits were disappointed that the Chancellor made no mention of these credits in his Budget statement? Is he also aware that many people are disappointed that the Government have made no announcement of lowering the age from 65, which means that it will take over 25 years to repay these post-war credits?

Mr. Brooke

Yes, Sir. I am aware from my own correspondence that numbers of people were disappointed. My right hon. Friend considered this matter very carefully this year, but he came to the conclusion that this was not the time when he should take a step in the direction of releasing more purchasing power.